Fall is upon us and many people in the United States are settling in to enjoy the cooler weather. Of course, that means that the holiday season is quickly approaching! Halloween is only a few weeks away, and that has a lot of people excited, and many others rather nervous. The popular holiday can be more tricks than treats as those celebrating get older. Let’s take a look at three ways Halloween can pose an insurance risk, and how to ensure that you are appropriately prepared.
The data shows that every year around Halloween, there is a notable uptick in property crime. There are a lot of hypotheses floating around as to why that happens. One popular theory is that when people are dressed up as something else, they are more comfortable letting their inhibitions out. It’s the same reasoning behind people wearing masks to parties in the Victorian era.
According to Microsoft News, “Halloween sees an average 24% more crime-related claims than any other day of the year. Of those claims, 19% are for vandalism and mischief, 21% are for off-premises theft and 60% are for on-premises theft.”
The best way to prepare for this is to make sure that your homeowners insurance policy is up to date. It’s also worth looking up exactly what your deductible is. If you are a victim of a property climb, but the cost of damages is less than your deductible, it is probably not worth the hassle of filing a claim.
Jack-O-Lanterns, candles and other spooky-fired-related decorations are quite popular around Halloween. While they do create a festive atmosphere, these types of decorations also pose a legitimate fire risk.
According to the National Fire Protection Association decorations were the first item to go up in flames in 840 homes in 2016. Damages from those fires totaled over $11 million.
You can minimize this risk by using fake candles instead of real ones, and making sure your homeowners policy is up to date. Always take the time to make sure your policy offers coverage for the full replacement cost for our home, just in case the worst should happen.
Halloween is one of those holidays that inspires many homeowners too pull out all the stops when it comes to decorating. While intricate lawn displays can be entertaining, they also pose a lot of risks. This is particularly true when it comes to premises liability.
Premises liability refers to the fact that if a person injures themselves on someone else’s property, that property owner can be held liable for the injury. This is of particular concern around Halloween, because of the intricate lawn setups that many Americans create. If someone trips over an extension cord, you could be liable for that injury.
Take care when setting up our decorations and try to avoid any clear hazards like exposed wiring and slippery surfaces. It’s also worth taking the time to check out the fine print of your homeowner’s insurance policy to make sure that you have personal liability coverage.
Halloween is an exciting time of year, but it brings with it a unique set of risks. Take the time to make sure that you have the correct insurance policies in place so you can enjoy the holiday to its fullest.
To learn more about your current policy, or to inquire about a new one, visit www.tgsinsurance.com.